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Konami acquires Japanese development studio Hudson

In a statement issued on its Japanese website, publishing and development giant Konami has announced its decision to purchase 3 million new shares in Hudson Soft, giving it a majority shareholding in the ailing developer.

In a statement issued on its Japanese website, publishing and
development giant Konami has announced its decision to
purchase 3 million new shares in Hudson Soft, giving it a
majority shareholding in the ailing developer.

The move will make Hudson into a subsidiary of Konami, who
will oversee reorganisation plans within the company.

Hudson Soft co-founder Hiroshi Kudo resigned from the company
last November after reports predicted a loss of 7.3 billion
yen ($69 million) for the financial year ending March 31
2005.

The developer approached Konami for assistance, who responded
by accepting a third party allotment of 3 million new shares
at a cost of 1.43 billion yen ($13.26 million) - raising its
ownership percentage from 45% to 54%.

The company "expects its acquisition of additional shares
will strengthen Hudson's net worth and will support and
enhance its organisation."

Hudson Soft employs 530 staff and is best known for creating
the highly successful Bomberman series. The developer also
recently produced Rengoku: Tower of Purgatory for the PSP.
Nintendo owns a 1.23% share in the company.

Konami also owns significant stakes in other Japanese
development studios including Atlus and Takara.